Market Size –
The embedded systems market size has grown strongly in recent years. It will grow from $101.44 billion in 2023 to $110.89 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to establishment of standards and certifications ensured the reliability and safety of embedded systems, increasing focus on cybersecurity led to the development of secure embedded systems to protect against vulnerabilities, expansion of global manufacturing capabilities provided cost-effective production of embedded systems, growing consumer demand and energy efficiency.
The embedded systems market size is expected to see strong growth in the next few years. It will grow to $159.1 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to demand for systems capable of real-time data processing, decreasing costs of embedded system components, growth in demand for tailored embedded solutions, expansion of embedded systems in developing countries and implementation in solar, wind, and other renewable energy solutions. Major trends in the forecast period include advanced embedded systems for military applications, increasing integration with cloud platforms, growth of Industry 4.0, expansion of telematics services and use of blockchain technology.
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Scope Of Embedded Systems Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Embedded Systems Market Overview
Market Drivers –
The increasing focus on energy efficiency and sustainability is expected to propel the growth of the embedded systems market going forward. Energy efficiency and sustainability refer to the practice of using less energy to perform the same tasks, thereby reducing energy waste, and adopting methods and technologies that meet present needs without compromising the ability of future generations to meet their own needs. Energy efficiency and sustainability are in need due to increasing concerns over environmental degradation, resource depletion, and climate change. Embedded systems contribute to energy efficiency and sustainability by optimizing energy usage, integrating renewable energy sources, and enabling intelligent grid technologies. For instance, according to the International Energy Agency (IEA), a France-based intergovernmental organization, global energy investment rose to $1,740 billion in 2023 from $1,617 billion in 2022. Around USD 2.8 trillion will be invested in energy in 2023. More than USD 1.7 trillion is being allocated to clean energy initiatives, encompassing renewable power, nuclear, grids, storage, low-emission fuels, efficiency enhancements, end-use renewables, and electrification. Therefore, the increasing focus on energy efficiency and sustainability is driving the growth of the embedded systems market.
Market Trends –
Major companies operating in the embedded systems market are developing security solutions to protect embedded devices and systems from cyber threats. Security solutions help to protect embedded devices and systems from cyber threats by implementing various measures such as encryption, authentication, and secure boot mechanisms. For instance, in July 2023, Kaspersky, a Russia-based cybersecurity and anti-virus software company, launched Kaspersky Embedded Systems Security. Kaspersky Embedded Systems Security offers robust protection for Linux-based embedded devices tailored to their specific security needs. It features multi-layered defenses, application controls, and integrity monitoring, ensuring compliance and protection against evolving threats.
The embedded systems market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Function: Real-Time, Standalone, Mobile, Networked
3) By System Size: Small Size, Medium Size, Large Size
4) By End-Use Industry: Automotive, Consumer Electronics, Aerospace And Defense, Healthcare, Telecommunication, Industrial, Other End-Use Industries
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Regional Insights –
North America was the largest region in the embedded systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the embedded systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the embedded systems market are Samsung Electronics, Sony Semiconductor Solutions Corporation, Siemens AG, Intel Corporation, Qualcomm Technologies Inc., Honeywell International Inc., Broadcom Inc., Nvidia Corporation, Advanced Micro Devices Inc., Texas Instruments, STMicroelectronics, Infineon Technologies AG, NXP Semiconductors, Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor, Microchip Technology Inc., Marvell, Vishay Intertechnology Inc., Arm Limited, Silicon Labs, Nordic Semiconductor, Lattice Semiconductor, Raspberry Pi Foundation, Arduino
Table of Contents
1. Executive Summary
2. Embedded Systems Market Characteristics
3. Embedded Systems Market Trends And Strategies
4. Embedded Systems Market – Macro Economic Scenario
5. Global Embedded Systems Market Size and Growth
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31. Embedded Systems Market Other Major And Innovative Companies
32. Global Embedded Systems Market Competitive Benchmarking
33. Global Embedded Systems Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Embedded Systems Market
35. Embedded Systems Market Future Outlook and Potential Analysis
36.Appendix
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